Significant Improvements in TEYDEB Transfer Payment (Prepayment) Processes

1. In the current situation, transfer payments were not made for projects with less than 6 months remaining until the project support end date. The implementation of adjustment has been reduced this period from 6 months to 3 months.
2. In the existing regulation, the rules for transfer payments made with guarantee/surety letter/surety bond differ from the rules for transfer payments made with promissory note issued by the institutions. The implementation of adjustment eliminates the difference between guarantee letter, surety letter, surety bond and promissory notes issued by the institutions.
3. 1. Institutions can receive transfer payments by submitting guarantee letter, surety letter, surety bond or promissory notes issued by the institution separately or combining multiple types of guarantees to receive transfer payments.

Example: Institutions can request transfer payment by submitting both the letter of guarantee and the promissory note issued by the institution.

1. 2. In the current situation, institutions could not receive additional transfer payments by providing additional guarantees. An amendment has been made to allow for additional transfer payments by providing additional guarantees due to increases in project costs or support limits.

Example: Institutions that have received a transfer payment by presenting a letter of guarantee can request additional transfer payments in the following period by presenting a promissory note issued by the institution.

1. 3. The rule of making a single transfer payment with a promissory note and offsetting the payment in 2 periods has been removed. Transfer payments with a promissory note issued by the institution will be made in each period according to the remaining budget as in the case of the guarantee letter, surety letter and surety bond.
   4. The ratio of transfer payments to the project budget/the remaining project budget has been increased from 25% to 30%. By implementing this regulation, institutions will be able to receive more transfer payments.

1. 5. Currently, a guarantee of 25% more than the requested amount is required for transfer payments. With the adjustment, this ratio has been reduced and a guarantee will be equal to the amount of the requested transfer payment.

Example: While 1,250,000 TL of guarantee is currently required for a 1,000,000 TL transfer payment, after the new regulation, only a 1,000,000 TL guarantee will be required for a 1,000,000 TL transfer payment.

3. Due to the recent increases in inflation, project costs have significantly increased. Therefore, the project budget or the remaining project budget during the project period will be increased based on the six-month average change rate of the Domestic Producer Price Index in January and June. Additionally, the remaining budgets of projects supported after January 1, 2023, will be retrospectively increased. These increases, considering the Domestic Producer Price Index, will only be taken into account for transfer payments and will not be considered as budget increases.
4. In non-micro-scale organizations, the costs of employees who are partners in the company with ownership of 5% or less and not serving as Board Members while working within the scope of Article 4, paragraph (a) of the Social Insurance and General Health Insurance Law No. 5510, can be supported.

5. Transfer payments can be made to organizations that have assigned and completed the assignment of their receivables from TUBITAK within the scope of the project.

The transfer payment rules mentioned above will be valid for transfer payments made after January 1, 2024.

For a sample prepared according to the old and new rules regarding transfer payments, click here.